Kuehne+Nagel acquires HSBC Export Services

Kuehne+Nagel will acquire the book of business of HSBC Bank’s Export Services division, effective December 1, 2006, for an undisclosed purchase price.The deal gives K+N access to a significant export-oriented customer portfolio.The Coventry-based HSBC Export Services specialises in export documentation and credit management as well as seafreight and roadfreight. With expertise in outsourced documentation services, the new business ideally complements K+N’s existing export offerings for FCL, LCL and European road services.K+N chief executive – North West Europe, Peter Ulber, said that the acquisition is a perfect strategic fit for K+N in the UK, and is consistent with the company’s strategy of acquiring businesses that bring value both to K+N and its customers.HSBC Export Services centre manager Chris Taylor will head the new division.